Hickory Point Bank & Trust Sells 17,865 Shares of AT&T Inc. (NYSE:T)

Hickory Point Bank & Trust reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 59.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 12,366 shares of the technology company's stock after selling 17,865 shares during the period. Hickory Point Bank & Trust's holdings in AT&T were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Next Level Private LLC boosted its stake in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after purchasing an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its stake in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Firethorn Wealth Partners LLC boosted its position in AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock valued at $286,000 after buying an additional 399 shares during the period. Charter Oak Capital Management LLC boosted its position in AT&T by 2.7% during the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company's stock valued at $431,000 after buying an additional 408 shares during the period. Finally, Buska Wealth Management LLC grew its stake in shares of AT&T by 3.2% during the fourth quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company's stock valued at $305,000 after buying an additional 412 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.2%

Shares of T traded up $0.33 during trading hours on Friday, reaching $28.09. 22,394,187 shares of the company traded hands, compared to its average volume of 36,706,311. The company's fifty day moving average price is $27.32 and its two-hundred day moving average price is $25.47. The company has a market capitalization of $202.12 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. Citigroup reissued a "buy" rating on shares of AT&T in a research note on Monday, April 7th. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a research note on Thursday, February 13th. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday, April 24th. Royal Bank of Canada increased their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Evercore ISI lifted their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.71.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.